We apply a variational method devised for the nuclear many-body problem to the one-dimensional Hubbard model with nearest neighbor hopping and periodic boundary conditions. The test wave function consist for each state out of a single Hartree-Fock determinant mixing all the sites (or momenta) as well as the spin projections of the electrons. Total spin and linear momentum are restored by projection methods before the variation. It is demonstrated that this approach reproduces the results of exact diagonalizations for half-filled N=12 and N=14 lattices not only for the energies and occupation numbers of the ground but also of the lowestmore » excited states rather well. Furthermore, a system of ten electrons in an N=12 lattice is investigated and, finally, an N=30 lattice is studied. In addition to energies and occupation numbers we present the spectral functions computed with the help of the symmetry-projected wave functions as well.« less